4 Proven Tactics to Increase Your Customer Lifetime Value (CLV)
Almost every company out there wants to grow their business & take it to new heights.There are two simple ways to grow your business: To get new customers or focus on customer retention to improve the Lifetime value of a customer. While most businesses resort to various strategies that solely focus on attracting new customers, leading reports suggest that the 2nd strategy is much more effective as it helps businesses generate a predictable & stable income. Despite the benefits of customer retention, almost 45% of companies are still engaged in the first strategy i.e., to attract new clients whereas a meagre 16% of businesses indulge in reducing churn & retaining their customers.